Fortunately is that since today RadioShack. Is There A Radioshack In Giddings Texas… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been briefly halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a long period of time, that meant real radio elements, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the business declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Is There A Radioshack In Giddings Texas
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.